NEW YORK, April 28, 2016 /PRNewswire/ -- The global portable analytical instruments market is projected to reach USD 9.55 billion by 2020from USD 8.10 billion in 2015, at a CAGR of 3.3% between 2015 and 2020. Growing food and environmental concerns; availability of low-cost and easy-to-operate portable analytical instruments; and increasing healthcare expenditure are key factors driving market growth for portable analytical instruments.
By product, the market includes TOC analyzers, dissolved carbon dioxide & oxygen meters, titrators, refractometers, pH meters, spectrometers, gas analyzers, conductivity & resistivity meters, colorimeters, thermal analyzers, and others (thermometers and balances). Based on technology, the market is segmented into spectroscopic analysis, elemental analysis, and others (thermal analysis and electrochemical analysis). Spectroscopic analysis is further subsegmented into X-ray fluorescence (XRF), near-infrared spectroscopy (NIR), Raman spectroscopy, Fourier transform infrared spectroscopy (FTIR), laser-induced breakdown spectroscopy (LIBS), and others (ion mobility spectroscopy and spectral imaging). The pH meters segment is estimated to hold the largest share of the portable analytical instruments market in 2015 owing to its wide use in many applications in chemical, pharmaceutical & biotechnology companies, food & beverage industry, water testing, petrochemical industry, and pulp & paper industry. The spectroscopic analysis technology segment is expected to grow at the highest rate; this technique can commonly be employed for various applications that require high precision and accuracy, such as food and beverage testing, drug testing, environmental testing, and academics & research, thus driving its market growth
The geographic segments included in this report are North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is further segmented into the U.S. and Canada. North America is expected to account for the largest share in the global portable analytical instruments market in 2015; the presence of major key players in this region increases its share in the global market. In Asia-Pacific, rising food, environment, and drug safety concerns lead to an increase in the demand for portable analytical instruments, which in turn will compel key players to expand their geographical presence in this region. This is a key factor fueling the growth of the Asia-Pacific portable analytical instruments market.
A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the global portable analytical instruments market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates. The report provides qualitative insights about growth rates, and market drivers for all subsegments. It maps market sizes and growth rates for each subsegment and identifies segments poised for rapid growth in each geographic segment.
The report includes company profiles of market leaders including Thermo Fisher Scientific, Inc. (U.S.), B&W Tek (U.S.), Danaher Corporation (U.S.), Bruker Corporation (U.S.), and Shimadzu Corporation (Japan). Other players in this market are Agilent Technologies (U.S.), Teledyne Technologies, Inc. (U.S.), Spectris plc (U.K.), Jasco Inc. (U.S.), and HORIBA Ltd. (Japan).
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The report will enable both established firms and new entrants to gauge the pulse of the market and help them make important strategic growth decisions.
The report provides insights on the following:
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the portable analytical instruments market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analyses of the leading players in the portable analytical instruments market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various portable analytical instruments across geographies.
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the portable analytical instruments market. The report analyzes the portable analytical instruments market by technology, products, and end users across all regions.
- Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the portable analytical instruments market.
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